Promote industrial development by improving land, preparing sites for buildings, including the demolition of existing structures, and construct, reconstruct, rehabilitate, restore and preserve, equip, improve, maintain, repair, or operate a building, and any necessary or desirable appurtenances to a building, in whole or in part, of a public or private person or corporation, or a combination thereof.
The board members of the Local Development Finance Authority also serve as the board of the Owosso Brownfield Redevelopment Authority.
The LDFA does not have any current projects. The most recently completed project was the successful expansion of Woodward Furniture from South Elm St. to Delaney Road in 1996. The district was closed in 2009 when all financing obligations were retired.